Self-Manage vs Property Manager

[Austin Fox]

Hello Biggerpockets,

As I continue my research into making my first purchase, I have never been a landlord before. I have lived in an apartment so I have an idea what it is like but not from the other side. What are your thoughts on hiring a property manager for my first purchase? Or should I look into self-managing? Any tips/ideas/thoughts on the self-managed vs property manager perspective. I currently work a full-time job 830am-5:00 pm and I am looking for real estate within the 45-mile range. No kids, no wife and still living at home for now, so time would not be a concern(after work, weekends,etc.)

[Derrick E.]

I recommend managing yourself for a few reasons.

#1. Great way to learn first hand experience as to what it takes to manage a property. When/if you ever decide to use a PM you will have a much better understanding of what to demand/expect.

#2. PM can eat up a lot of your profit, especially early on and trying to get started.

#3. If you get good tenants then you won't hear from them very often. After getting them placed there isn't a whole lot of managing to do.